Shares of RBC Bearings Incorporated (NYSE:RBC – Get Free Report) have received an average recommendation of “Buy” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold recommendation, six have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $584.00.
A number of research firms recently issued reports on RBC. Truist Financial reiterated a “buy” rating and set a $615.00 price objective (up from $599.00) on shares of RBC Bearings in a research note on Tuesday, May 19th. Weiss Ratings upgraded RBC Bearings from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, May 19th. The Goldman Sachs Group reiterated a “neutral” rating and set a $542.00 price objective on shares of RBC Bearings in a research note on Monday, February 9th. Morgan Stanley boosted their price objective on RBC Bearings from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Finally, KeyCorp boosted their price objective on RBC Bearings from $595.00 to $680.00 and gave the company an “overweight” rating in a research note on Monday, March 2nd.
Read Our Latest Research Report on RBC
RBC Bearings Stock Up 0.9%
RBC Bearings (NYSE:RBC – Get Free Report) last issued its quarterly earnings results on Friday, May 15th. The industrial products company reported $3.62 EPS for the quarter, beating analysts’ consensus estimates of $3.31 by $0.31. RBC Bearings had a return on equity of 11.35% and a net margin of 15.37%.The firm had revenue of $518.00 million for the quarter, compared to analysts’ expectations of $505.90 million. During the same quarter in the prior year, the firm earned $2.83 EPS. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, equities research analysts anticipate that RBC Bearings will post 13.58 EPS for the current year.
Institutional Trading of RBC Bearings
A number of hedge funds and other institutional investors have recently made changes to their positions in RBC. Advisors Asset Management Inc. bought a new stake in shares of RBC Bearings during the 1st quarter valued at $26,000. Western Wealth Management LLC bought a new position in RBC Bearings in the 1st quarter worth about $27,000. SBI Securities Co. Ltd. increased its stake in RBC Bearings by 106.5% in the 4th quarter. SBI Securities Co. Ltd. now owns 64 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 33 shares during the last quarter. Larson Financial Group LLC increased its stake in RBC Bearings by 148.5% in the 3rd quarter. Larson Financial Group LLC now owns 82 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 49 shares during the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in RBC Bearings in the 4th quarter worth about $35,000.
About RBC Bearings
RBC Bearings Incorporated is a global designer, manufacturer and marketer of highly engineered precision bearings and components for extreme applications. The company’s product portfolio includes cylindrical roller bearings, spherical plain bearings, ball bearings, track rollers, and engineered components such as metal-to-metal and polymer bearings. These products are tailored to meet the demanding requirements of aerospace, defense and industrial customers where reliability under severe conditions is critical.
The company’s bearings and components find application in aircraft engines, auxiliary power units, landing gear systems, space and missile programs, industrial gas turbines, oil and gas drilling equipment, and heavy machinery.
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